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Author Topic: Can Bitcoin also lead to corruption ?  (Read 44840 times)
bucker steemit
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November 09, 2017, 02:21:49 AM
 #1281

of course, bitcoin is their field to launder their corrupt money, here are many opportunities but that need to be noticed bitcoin has a weak side everyone can use without being traced at all, this is what makes bitcoin banned in some countries.

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November 09, 2017, 02:52:51 AM
 #1282

Some other people say bitcoin is lead to curraption, but they dont now about bitcoin. For me bitcoin is the one who help me to be repsonsible, he gave me an apportunities to help to my family, big thanks to bitcoin, this is not to lead a corruption

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November 09, 2017, 05:35:44 AM
 #1283

Some other people say bitcoin is lead to curraption, but they dont now about bitcoin. For me bitcoin is the one who help me to be repsonsible, he gave me an apportunities to help to my family, big thanks to bitcoin, this is not to lead a corruption
Bitcoin can be use for both legal and illegal activities so it can also use for corruption but it will not lead corruption.
People should realize what is bitcoin and it's usefulness to the people, it's just a simple tool where we can use for online transaction and still it's the initiator who will decide on how he will use his bitcoin, and like I said, it can be in any purpose.

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fredo123
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November 09, 2017, 06:06:47 AM
 #1284

Yes because it people involved in bitcoin business remain anonymous and since everybody are anonymous authorities will hardly trace people involved in crime and other illegal activities like money laundering tax evasion and etc, That is why some country banned the use of btc. 
 

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November 09, 2017, 07:35:00 AM
 #1285

Positive differences in bitcoin occur so we need to be careful about what we do, so we must first study the different ways and follow the bitcoin rules.

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November 09, 2017, 09:06:32 AM
 #1286

It doesn't mean that Bitcoin also lead to corruption. But, yes it could be use for dishonest or fraudulent activities such as corruption. Bitcoin has a value that is widely use as a money that is not regulated. Using Bitcoin in illegal activities could really be a good way because money transaction could not be track unlike the fiat. This means that is not just useful in corruption but all kind of illegal activities even Money Laundering. This is the bad side of it, but ofcourse! it is still up to the user how they will use the Bitcoin. Because even a regulated money could be use in illegal activities how much more for this currency.

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November 09, 2017, 09:08:57 AM
 #1287

I think yes. I think while money exist in any form (fiat, electronic, crypto) there will be corruption.
And with BTC corruption can be more hidden, definately.
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November 09, 2017, 09:39:48 AM
 #1288

of course, bitcoin is their field to launder their corrupt money, here are many opportunities but that need to be noticed bitcoin has a weak side everyone can use without being traced at all, this is what makes bitcoin banned in some countries.
Yes there is a big possibility that a bitcoin can be used for corruption because corruption is everywhere. Bitcoin as a virtual currency and a decentralized system
makes it vulnerable to corruption. For example to make this sense! i corrupt a huge money in a government or in a company where i have work then i don't want to have a trace because it will contradict against my assets and liability, so what will i am going to do is to invest it all with the bitcoins. Then it is already hard to trace since i was transacted it in a decentralized system and it is already considered as anonymous transaction.

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November 09, 2017, 10:04:15 AM
 #1289

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

I believe so. I mean if money itself, even the lowest currency can lead to corruption what more in bitcoin which has a really high value. So, there is no reason for a person to neglect or refuse on having bitcoin, they want more of it though.

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November 09, 2017, 10:15:38 AM
 #1290

I do not think that it can lead to corruption because it is just your own money and you should just do whatever you want to do with it and i would suggest to just do what you want i hear from people if i keep my bitcoins am i greedy then no your money your life do what you want with it.
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November 09, 2017, 03:07:59 PM
 #1291

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?

I believe so. I mean if money itself, even the lowest currency can lead to corruption what more in bitcoin which has a really high value. So, there is no reason for a person to neglect or refuse on having bitcoin, they want more of it though.

It is also possible because bitcoin is just the same as fiat money. It will drive people crazy if they will lose it so some people also take an advantage through it and use it for bad purpose such as controlling people by promising them that they will give such amount of bitcoin to them. And we all know that people can easily be manipulated through money and it could also lead to corruption because the more the rate of bitcoin will rise, the more the interest of the people in bitcoin will also increase.

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November 09, 2017, 03:21:39 PM
 #1292

how do I know how bitcoin each member has, and protected if seama stored in the VIP, the possibility to take away from belonging to others is difficult, corruption here, maybe it could happen in the real world, keep the money from corruption in buy bitcoin , if such a possibility could still happen

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November 09, 2017, 04:11:07 PM
 #1293

In one aspect yes! money laundering can occurre in bitcoin because the transactions can not be traced so the chances are that some people may be using bitcoin for running their illegal businesses.

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November 09, 2017, 04:55:42 PM
 #1294

I think bitcoin can also lead to corruption. Because even in small currency moneys there is a corruption and bitcoin has a big currency, big currency means big amount of money and money is always connected to corruption, because of greediness.
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November 09, 2017, 05:10:07 PM
 #1295

I don't think so! Bitcoin is the same as money which is the priority need of all people (I'm talking about material concern of man).
Money is not the one that leads people to corruption, so same as bitcoin. Corruption is in the man's heart not in Bitcoin. So as long as there is selfish, then, corruption is there not because of the money or the bitcoin but because of being selfish and uncontented.

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November 09, 2017, 05:24:45 PM
 #1296

I'm sure that bitcoin BTC will lead to corruption.
Because there are many options for money laundering, and no one can track them.
Therefore, many countries are afraid to officially legalize Bitcoin.
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November 09, 2017, 11:17:11 PM
 #1297

It's possible that someone is doing corruption with a digital currency for example bitcoin. You are able to corrupt and save money into bitcoins. Nobody understands that you're the owner of the money. Since the bitcoin is unknown. I believe a great way to eliminate your financial records is by turning them into bitcoins. Perhaps when the corruptors know it they'll save their cash on bitcoin.
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November 09, 2017, 11:33:40 PM
 #1298

We all know that there is corruption everywhere, like in government or any other organization. Because of money, corruption can always happen with greedy people who always wants more money to them. Since bitcoin can be considered as money, can it also lead to corruption?
No, because no one can corrupt it. Bitcoin is decentralized and no one controls it. The only threat to this type of money are hackers and the ones who scam
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November 10, 2017, 03:41:03 AM
 #1299

What kind of corruptions you are talking about? Bribes? Money laundering? Insider trading? Every single one of those existed before bitcoin and they will exist after it. If bitcoin made being corrupted easier, so what? Internet also made so many crimes possible. People even can hire hitmen from the internet. Do we blame the internet for that? No. Every technological advancement comes with pros&cons.
it may not be possible, because whatever it is there is nothing that is impossible what to do with money or whatever is profitable. various ways will be fought with people who are jolts whose lives are never satisfied, the era of technology and what age the name of corruption must exist. it has become the law of nature, the most important thing to make as safe and intelligent as possible.

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November 10, 2017, 09:53:11 PM
 #1300

Bitcoin is just cash. Cash is not the supply of problem, but avarice and insufficient moral standards is. Consequently BTC is not leading to problem in the first place.
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